Telegram-herald., 1887-09-24
THE TRADE OUTLOOK.
1T Is NOT QUITE so FAVORABLE.
X. G. Dun a Co.'s Weekly Report-Ths
strinsency of Moasy Affecting Blu
siness-Fswer Failures Than
Last Year,

NEW YORK, Sept. 23.-R. q. Dun & Co.'S
weekly review of trade will say: While
money is male easier in Wall-st by the
Government purchase of bonds, 1t grows
tighter throughout the interior. The effects
of the absorption of capital in building and
rapid development are each week felt more
clearly. At Cleveland money is very close,
raore than 100000 having gone from that
~ alone IN four months Tor investment
.arther west. At Chicago a constant de-
mend from the country towns causes pres
sure, of which no relaxation at present is
expected. Thas city used to borrow largely
from Boston,, but this year Boston
has been investing sixty millions
or more in now western railroads.
and so the scarcity Of money there is felt
severely by those who have been relying on
note-brokers. Recent failures cause caution
AZ Philadelphia and single name paper
cannot be Negotiated. Former failures also
cause pressure a. Cincinnati, where per
cent is commonly paid. At New Orleans
money has not been so tighlsince the Grant
Ward failure. At Kansas City, Omaha and
Milwaukee money is close. The change of
temper here is, of course. not yet felt at dis
tant points. During the past week the
treasury has paid out si50O,0O0 more than
it has taken in; 80 that its pay ments exceed
its receipts for the month of 81, 100000.
Gold continues 10 arrive from Europe, but
no more is shipped.
Merchandise exports from New York for
three weeks are 8 per cent. above last year.
against an increase of 101 per cent. in im-
ports here. Ii is still q fact that gold comes
only for investment or speculation, so that
encouragement might turn the tide. At
present railroad earnings continue large,
| tho west-bound tonnage in August being
| 2l6, .09 against 176, ,395 tons in 1886, and
| east bound for three months shows q slight
| increase. But the competition of lake aud
water routes grows more severe, and the
| Interstate decisions more embarrassing.
| Clearings continue to show an increase over
last year-for last week per cent.
this, however, includes large payments on
account of bLilding and speculation. Some
| depression results from recent failures in
| the iron trade, and from continued heavy
| importations, and while the best brands of
pig are firm, the heavy output tends to
| to weaken other grades. One lr-ge order
| for rails has been cancelled. Boz and shoe
| sales are not up to recent expectations,
| travellers reporting orders contracted by the
monetary pressure Leather and hides are
| consequently dull and some slsckening in
| the wools goods trade checks the late prom
ise of greater activity in wool,
Dry goods experience some reaction from
the unusual activity of recent weeks, but
| prices are firmly held. Prices in the stock
market declined Monday and Tuesday to
the lowest of the year. but have since re-
| covered smartly- Wheat is lifting little
and new speculation appears in oil with
some advance in coffee The tendency for
moment is 10 advance prices in all markets
on account of the treasury disbursements
L A.. - r.
ton OF capital must still have some in
| huence.
The ssiness failures for the United
States aud Canada this week number ls3
Compared With 157 for the corresponding
/ week OF 1886.